How to spot personal loan scams and protect your finances
Follow these tips to avoid falling prey to personal loan fraudsters.
Denny Ceizyk is a former senior writer for Bankrate, where he provided 30 years of insight from his experience in loan sales and as a personal finance writer to help consumers navigate the lending landscape on their financial journeys. Denny’s background in mortgage lending gives him unique insight into how consumer’s financial decisions — especially related to how they manage credit — affect their successes throughout their financial lifetimes.
Denny’s transition into personal finance writing started when he joined forces with a government housing agency during the housing meltdown to educate consumers about how to avoid foreclosure. He began to expand that writing into the personal finance space on a freelance basis and has since been featured in the New York Post, MarketWatch, Debt.com, Cheddar and regional radio stations.
When he’s not working, he’s spending time with his family where he might be out by the barn walking his dogs, Elvis and Emmy. If you’re in Nashville, you might catch him playing in a songwriting round, and might even hear one of his songs in an upcoming Hallmark movie.
Every loan decision you make can have a ripple effect on your future financial condition. I saw that firsthand when I processed mortgage loans early in my mortgage career. One wrong decision often meant the difference between approval and denial. Throughout my career, I found the “wrong” financial decision is usually more of an “I didn’t know” decision, and my goal is to provide consumers with the depth of knowledge they need to make informed borrowing choices.
Follow these tips to avoid falling prey to personal loan fraudsters.
Debt consolidation can help you stay organized and possibly save money.
PenFed is a credit union that offers loans for new and used car loans, auto refinance loans and lease buyout loans.
Discover, though known for its credit cards, also offers a range of personal loans with flexible repayment terms, no processing fees and low APRs.
USAA is a Texas-based company that serves U.S. military members and veterans, pre-commissioned officers and spouses and children of either.
Avant offers fast funding and flexible payment options. Additionally, you don’t need stellar credit to qualify for a personal loan with this lender.
Some types of emergency loans come with sky-high fees and interest rates.
To get an emergency loan, you’ll need credit, income and debt information.
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